LifePoint to Sell $700M of Notes to Fund Acquisitions

Brentwood, Tenn.-based LifePoint Hospitals will sell $700 million of senior notes, which carry a 5.5 percent interest rate and mature in 2021.

LifePoint will use proceeds from the offering to fund acquisitions and for "other general corporate purposes," such as repurchasing common stock. The sale of the notes is expected to close Dec. 6.

Earlier this month, LifePoint finalized its joint venture agreement with Fauquier Health in Warrenton, Va. It is also pursuing deals with WestCare Health System in Sylva, N.C., and Rutherford Regional Health System in Rutherfordton, N.C., through its Duke LifePoint Healthcare partnership. In September, LifePoint was rumored to be a potential buyer of Franklin, Tenn.-based Capella Healthcare.

Bill Carpenter, chairman and CEO of LifePoint, said in the company's third-quarter earnings report that LifePoint has a "strong pipeline of potential [acquisition] opportunities."

More Articles on LifePoint Hospitals:
LifePoint Hospitals Appoints Jeremy Clark Associate General Counsel
For-Profit Hospital Stock Report: Week of Nov. 11-15, 2013
Duke LifePoint, WestCare to Form Partnership

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